News/People
Costas named chief executive at UBS Warburg; Arnold ousted
UBS Warburg, the investment banking unit of Switzerland’s UBS, has promoted John Costas to chief executive. Based in London, Costas will assume the day-to-day operational leadership of the business group and will sit on the UBS group executive board.
EasyScreen lures in Warburg's Kleinops to boost US effort
EasyScreen, the London-based front-end futures and options software vendor, has made Jim Kleinops its new head of technical sales and design for its US office in Chicago.
BoA's corporate risk veteran Vandiver to retire
Bank of America’s (BoA) corporate risk management executive Bill Vandiver will retire in March, following 35 years with the Charlotte-based financial services company. He will be replaced by Amy Woods Brinkley, presently deputy corporate risk management…
Tamesis hires derivatives veteran Benson
Tamesis, the London-based supplier of risk management and trading solutions to investment banks, has hired derivatives veteran Robert Benson as a board director.
Enron's bankruptcy leaves freight derivatives opening
Enron's bankruptcy has left a vacant brokers' position in the small but growing freight derivatives market, which is being eyed up by a number of players. Enron had been one of the main market-makers in the forward freight agreements (FFAs) market, with…
Commerzbank loses head of alternative investment unit
Kevin Ferro, formerly head of Commerzbank’s New York-based Alternative Investment Strategies (AIS) unit, has left the firm, along with five members of his team. A Commerzbank spokesperson in New York said that Ferro and his colleagues have set up a new…
Goldman's Litzenberger retires
Bob Litzenberger, head of firm-wide risk management for Goldman Sachs, retired last week. Noel Donohoe, chief operating officer for the firm-wide risk management group, has replaced him.
Icap loses head of weather
Dan Tomlinson, head of weather derivatives at Icap, has left the London-based inter-dealer broker and joined WeatherXchange, a joint initiative between the UK’s Meteorological Office and Umbrella Brokers.
CME taps Sears to run forex business
The Chicago Mercantile Exchange (CME), currently the world’s third-largest derivatives exchange by volume, has appointed Richard E. Sears to a new position as managing director in charge of managing the CME’s foreign exchange business.
Isda appoints head of research
The International Swaps and Derivatives Association, has made David Mengle its new head of research, a newly created position. Mengle will be responsible for providing research and analytical support for various Isda derivatives committees and…
Indosuez Asian derivatives team unaffected by cuts
Indosuez WI Carr Securities’ Asian derivatives team will not be affected despite cuts of 300-plus staff at the investment bank throughout the region, according to a senior official at the bank. The 22-strong derivatives team will instead be integrated…
LCH appoints two new directors
The London Clearing House (LCH) has made David Pritchard and David Robins non-executive directors of the company, effective from November 26.
New chairman for MFA
Samuel Weiser, managing director of Ranger Capital Group, a Texas-based private investment management company, will replace Jeffrey Izenman as chairman of the Washington-based Managed Funds Association (MFA). MFA is a ten-year-old organisation for…
CBOE elects 11 directors
The Chicago Board Options Exchange (CBOE) has elected 11 directors to serve staggered terms on its 23-person board of directors. The terms of the newly elected directors will start when the board holds its first meeting in January 2002.
ANZ poaches Rabobank’s food and agri risk team
ANZ Investment Bank, the investment banking arm of Australia and New Zealand Banking Group, is to expand its role in soft commodities by hiring four ex-Rabobank staff in London. The move will establish ANZ's presence in agricultural futures.
Deutsche boosts US swaps sales effort
Deutsche Banc Alex. Brown, the US investment banking arm of Germany's Deutsche Bank, has lured Steve Beck from internet mortgage bond trading platform, Vertical Crossings, to become a senior salesman offering interest rate swaps and bonds in the US.
Turley named global FX head at Deutsche
Deutsche Bank's European FX head Jim Turley will take over as head of global FX from current incumbent Hal Herron, who is stepping down after four years at the helm for a three-month sabbatical in his native Australia.
Risk head Williams to lead Wachovia's corporate banking division
Doug Williams, a risk and capital markets veteran, has been made head of global corporate banking at US financial services group Wachovia. Based at the firm's Atlanta office, he will report to Steve Cummings and Barnes Hauptfuhrer, co-heads of Wachovia…
SunGard creates real-time credit risk analytics
SunGard Trading and Risk Solutions, a unit of US technology provider SunGard, has built a new credit tool that can offer traders access to virtually real-time risk exposures.
McDaniel to head of Moody's investor services
International rating agency Moody's has made Raymond McDaniel president of Moody's investors service. He will manage Moody's global ratings and research businesses following a 14-year tenure with the firm.
Merrill restructures global debt markets
Dow Kim, Merrill Lynch’s new head of global debt markets, has named a series of new team leaders that will spearhead Merrill’s drive to integrate its cash, derivatives, origination, structuring and marketing of debt products.
SunGard appoints two new presidents
SunGard Trading and Risk Systems has appointed new presidents to lead two of its operating units. Paul Murphy becomes president of SunGard Collateral and Steve Husk joins as president of Credient/Infinity. Both Murphy and Husk will report to Jim Ashton,…
ICE promotes Marcial to CTO
Atlanta-based online commodities exchange, IntercontinentalExchange (ICE), has promoted Edwin Marcial from vice-president, technology, to senior vice-president and chief technology officer. ICE says the appointment emphasises the importance of its…
Nomura adds to capital markets business
Nomura International has made a number of new hires to its capital markets business, in a move to leverage its position in the yen markets. Nomura also says the new hires should broaden the origination capabilities of its fixed-income business.